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Brexit: sterling on edge as May fails to woo N. Irish party, suffers further setback

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Brexit: sterling on edge as May fails to woo N. Irish party, suffers further setback

Brexit: sterling on edge as May fails to woo N. Irish party, suffers further setback

Sterling rose on Wednesday as Theresa May tried to win over the Northern Irish DUP party in a crucial vote next week on her Brexit deal.

But as David Pollard reports, its gains were looking precarious when the British prime minister suffered further setbacks in her Brexit efforts.

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Brexit: sterling on edge as May fails to woo N. Irish party, suffers further setback

(UPSOT) (English) BRITISH PRIME MINISTER, THERESA MAY, SAYING: "I want us to leave the European Union on the 29th of March with the good deal that's on the table." Theresa May was in fighting form on Brexit on Wednesday .... And so was sterling.

The pound rising on her efforts .... to bring the Northern Irish party that props up her government on board with her proposed EU withdrawal deal .... The Democratic Unionist Party will have 'a strong voice and role' in any decision, she said ... On how to implement the so-called 'backstop' arrangement to guarantee an open border between Northern Ireland and the Irish Republic.

Talks with EU leaders, meanwhile, are ongoing.

(SOUNDBITE) (English) BRITISH PRIME MINISTER, THERESA MAY, SAYING: "These discussions have shown that further clarification on the backstop is possible and those talks will continue over the next few days." The DUP fears the backstop will put trade barriers between Northern Ireland and the rest of the UK .... And, its Brexit spokesman said on Wednesday, would have to be removed from the agreement altogether if his party was to support May.

This was the first full day to resume debate on her deal ahead of a key parliamentary vote due on January 15.

Sterling could, says one fund manager, jump four per cent if she wins that .... A prospect seen as unlikely ..... Her precarious position highlighted on Tuesday ... when lawmakers voted to restrict the government's scope for tax changes following a no-deal Brexit.

And again on Wednesday - when they voted to force her government to return to parliament with a plan B for Brexit in just three days if May's deal is voted down, rather than the 21 days specified in Brexit law.




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